The Senate Wednesday passed for third reading, N607.952billion 2022 Appropriation bill for the Federal Capital Territory Administration (FCTA). Breakdown of the budget showed that the sum of N76,565,904,857 is for Personnel Costs and N138,199,851,110 is for Overhead Costs while the balance of N393,182,267,614 is earmarked for Capital Expenditure. The Senate approved the FCT budget following the consideration of the report Read More
Recent developments in the foreign exchange market have sent jitters down the spines of the architects of the 2023 Appropriation Bill. If Nigeria was a country where budgets are meant to be implemented, the federal government would have withdrawn the bill for massive reviews. The economic projections in the bill are collapsing like a pack of cards. Last week the Read More
President Muhammadu Buhari has presented N20.15 trillion as the estimated budget for 2023 fiscal year before a joint session of the National Assembly, Friday. Buhari noted that the government is budgeting about N6 trillion for debt servicing in 2023.
The revelation by the Independent Corrupt Practices and other related offences Commission (ICPC) that the N13.59 trillion 2021 budget was padded by the various Ministries, Departments and Agencies (MDAs) with N300 billion worth of duplicated projects is reprehensible and condemnable. The anti-corruption agency also disclosed that another N100 billion worth of duplicated projects were inserted into the N17.12 trillion 2022 Read More
The federal government is planning about $550 million for the provision of 20,000 Standalone Solar Systems (SHS) and Solar Hybrid mini-grids in at least 250 locations across the country. President Muhammadu Buhari told Bloomberg in an interview that the Federal Government has commenced the decentralisation of the national grid to address the challenges of power supply across the country. He Read More
The executive chairman, Kogi State Science Technical Education and Teaching Service Commission (STETSCOM), Mrs. Cecilia Cook, has said “Nigeria needs a leader with capacity like Governor Yahaya Bello that will provide 30 per cent budgetary allocation to the education sector as is being done in the state.” Mrs. Cook stated this Friday in Lokoja while speaking with newsmen on the Read More
BudgIT said it uncovered the discrepancies after examining the 21,108 capital projects in the budget. The presidency had submitted a proposed fiscal budget of N16.391 trillion to the national assembly, but the lawmakers later raised it to N17.127 trillion — an increase of N735.8 billion. “Our preliminary analysis of the 21,108 capital projects in the 2022 approved budget revealed 460 Read More
The Federal Government has revealed how it it intends to fund its budget deficit this year. Patience Oniha, Debt Management Office (DMO) said, government intend to roll out an FGN Bond in the first quarter of 2022. FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on Read More
Governor Babagana Umara Zulum of Borno state Monday assented to the N269, 696,860.00 2022 appropriation bill passed into law by the Borno state House of Assembly at the Government House, Maiduguri. The initial budget proposal of N267,921,484.00 was adjusted to N269, 696,860.00 to take care of requests from four ministries during House committee on appropriation’s consultations which raised the budget Read More
As Governor Nasir el-Rufai of Kaduna state signed the 2022 budget into law amidst high expectations from residents, the state government explains that the ‘Budget of Sustainable Growth’ is targeted at completing the urban renewal projects and addressing poverty among the citizens at the grassroots level. ABDULRAHEEM AODU takes a look at the budget’s targets and expectations of Kaduna people. Read More
President Muhammadu Buhari on Friday in Abuja signed into law the 2022 Appropriation Bill and the 2021 Finance Bill. The President signed the documents in the Presidential Villa in the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council. Speaking at the event, the president said the Read More
Stakeholders in the water and sanitation subsector have called governments across Africa to set aside a minimum of 5 per cent allocation from their annual budgets for water and sanitation programmes. The call was made at the just concluded Africa Water and Sanitation Week Conference in Widhoek, Namibia. The continents’ governments had in 2003 pledged to commit at least 5% Read More
With benefit of hindsight, agriculture has been a livewire of Nigeria’s nation with the inordinate potential to make the country great. It is however the most neglected sector, which is lackadaisically served with empty promises and false hopes over the last three decades. This column has written a series of articles on Agriculture with the latest piece on World Food Read More
The Senate Wednesday announced plans to consult with the House of Representatives on the way out of the logjam over President Muhammadu Buhari’s veto on the 2010 Electoral Act (Amendment Bill) Bill 2021. The position came as a sharp contrast to the earlier threat by Senators George Sekibo, Mathew Urhoghide and some others who pleaded anonymity, to override Buhari’s veto. The aggrieved Read More
Niger state House of Assembly has increased the state 2022 estimated budget by N13 billion from the N198 billion submitted by the executive to N211 billion. While passing the budget Tuesday in Minna, the assembly said it was jacked up in view of improved revenue currently accrued to the state. Presenting the report of the House Committee on Planning and Read More
Jema’a local government chairman, Comrade Yunana Markus Barde, has presented the 2022 proposed budget estimate of two billion, nine hundred and ninety-four million, seven hundred thousand, nine hundred and eighty-two Naira (N2,994,700,982,00) to the local government legislative council for approval. The chairman, who was accompanied by the vice-chairman, Christie Yori Usman, and other executive members, presented the budget during the Read More
Governor Hope Uzodimma of Imo Friday presented a budget estimate of N381,462,947,677 billion for the 2022 fiscal year. The budget captioned “Budget of Wealth Consolidation and Recovery” earmarked N96,746,349,775 for Recurrent expenditure representing 23.36 percent of the budget and N284,716,597,902 for capital expenditure, representing 74.64 percent. The budget set aside N8,980,000,000 from the recurrent expenditure and N6,379,828,253 from the capital Read More
Speaker of Lagos state House of Assembly has urged Governor Babajide Sanwo-Olu to work more on policies to bring more dividends of democracy to the people. Obasa gave the advice when the governor visited the assembly Wednesday to present the 2022 Budget of Consolidation put at N1, 388, 285,459,990.51. Speaking after the presentation by the governor, Obasa who passed a Read More
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said Wednesday that the federal government cannot sustain the current N250 billion monthly petroleum subsidy. Briefing State House correspondents at the end of the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, the minister said the costly monthly subsidy is making the Nigerian National Petroleum Read More
Taraba state governor Darius Ishaku on Friday laid the state’s 2022 appropriation bill of N146, 781,653,671.82 to the House of Assembly for consideration. Ishaku, while laying down the budget, said it was another opportunity to work together to achieve what was best for the state. He stressed that the 2022 budget was tagged “Budget of Hope and consolidation.” He said Read More
The Zamfara Social Protection Platform (ZSPP) has appealed to the state government to appropriate fund in its 2022 budget for welfare of Internally Displaced Persons (IDPs). ZSPP, a civil society organisation (CSO), in a position paper on Friday in Gusau, stated that the fund would help to address other social protection issues. The position paper was presented at a town Read More
Governor Bala Mohammed of Bauchi state Thursday presented a proposed budget of over N195 billion to the state House of Assembly for the 2022 fiscal year. Presenting the budget, the governor stated that the sum of N8 4,375,180,518 : 00 representing 43 % was earmarked for recurrent expenditure while capital expenditure receives the sum of N110,620,426,625 :00 representing 57 %. Read More
Ministry of Mines and Steel Development has proposed a N23.4 billion budget for the 2022 fiscal year. This budget is slightly lower than N24.4 billion budgeted in 2021. Minister of Mines and Steel Development Arc Olamilekan Adegbite stated this while defending the budget proposal at the National Assembly on Monday. He however, called for more fund allocation to the steel Read More
The National Inland Waterways Authority ( NIWA), is to exit the National budget in the 2023 fiscal year saidState congress: Akala to meet Oyo APC . But the joint committee of both the Senate and the House of Representatives on Marine Transport, rejected the 2022 budget proposals presented by NIWA’s MD on alleged disjointed figures. In his presentation before the Read More
The Federal Executive Council (FEC) Wednesday approved the 2011-2025 National Development Plan (NDP) to replace Economic Recovery and Growth Plan (ERGP). Minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this at the end of the weekly FEC meeting chaired by Vice President Yemi Osinbajo. She said the plan has an investment size of N348.7 trillion to be Read More
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